Vietnam: Paper Bag Market 2024

Paper Bag Market Size in Vietnam

In 2021, after two years of decline, there was significant growth in the Vietnamese paper bag market, when its value increased by 13% to $X. Overall, consumption, however, continues to indicate a mild reduction. Paper bag consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Paper Bag Production in Vietnam

In value terms, paper bag production amounted to $X in 2021 estimated in export price. Overall, production, however, saw a slight decline. The pace of growth was the most pronounced in 2013 when the production volume increased by 13% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Paper Bag Exports

Exports from Vietnam

In 2021, shipments abroad of sacks and bags of paper decreased by -40.6% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2019 with an increase of 48% against the previous year. The exports peaked at X tons in 2020, and then contracted significantly in the following year.

In value terms, paper bag exports contracted remarkably to $X in 2021. Overall, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 40% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then declined rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for paper bag exports from Vietnam, with a 41% share of total exports. Moreover, paper bag exports to the United States exceeded the volume sent to the second major destination, Cambodia (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+7.9% per year) and Indonesia (+4.0% per year).

In value terms, the United States ($X) remains the key foreign market for sacks and bags of paper exports from Vietnam, comprising 43% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 9.1% share of total exports. It was followed by South Korea, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+6.1% per year) and South Korea (+17.4% per year).

Export Prices by Country

In 2021, the average paper bag export price amounted to $X per ton, growing by 9.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Paper Bag Imports

Imports into Vietnam

In 2021, the amount of sacks and bags of paper imported into Vietnam expanded to X tons, increasing by 3.8% compared with 2020 figures. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +53.6% against 2018 indices. The pace of growth was the most pronounced in 2015 when imports increased by 49% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, paper bag imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.4% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 60% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest paper bag supplier to Vietnam, with a 74% share of total imports. Moreover, paper bag imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. South Korea (X tons) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+31.4% per year) and South Korea (-4.8% per year).

In value terms, China ($X) constituted the largest supplier of sacks and bags of paper to Vietnam, comprising 66% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports. It was followed by South Korea, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+39.7% per year) and South Korea (-3.7% per year).

Import Prices by Country

The average paper bag import price stood at $X per ton in 2021, increasing by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2013 when the average import price increased by 20% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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